<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 4-11-2.1 - Charitable or nonprofit corporations to comply with certain audit requirements. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2034040Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034040SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034040CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2034040Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2034040DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034040DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034040000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2034040SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2034040SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2034040Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=4-11-2.1"><span class="s2034040SENU">4-11-2.1</span></a><span xml:space="preserve" class="s2034040SENU">. </span><span class="s2034040CL">Charitable or nonprofit corporations to comply with certain audit requirements.</span></p><p dir="ltr" class="s2034040Normal-000000"><span xml:space="preserve" class="s2034040DefaultParagraphFont">Any charitable or nonprofit corporation receiving federal funds through the state or its political subdivisions, that is required to be audited in accordance with the Federal Single Audit Act Amendments of 1996 Public Law 104-156 (31 U.S.C. sections 7501 to 7507) as amended to January 1, 2003, shall comply with the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=4-11-7"><span class="s2034040DefaultParagraphFont">4-11-7</span></a><span class="s2034040DefaultParagraphFont">, except for the restrictions on payment for the audit, when hiring a public accountant to perform the audit. The auditor</span><span class="s2034040DefaultParagraphFont-000001">-</span><span class="s2034040DefaultParagraphFont">general may examine all financial records, related to funds provided by the state or its political subdivisions, of any charitable or nonprofit corporation if deemed necessary and in the public interest by the auditor</span><span class="s2034040DefaultParagraphFont-000001">-</span><span class="s2034040DefaultParagraphFont">general.</span></p><p dir="ltr" class="s2034040Normal"><span xml:space="preserve" class="s2034040000002"> </span></p><p dir="ltr" class="s2034040Normal"><span class="s2034040SCL">Source:</span><span xml:space="preserve" class="s2034040SCL-000003"> SDC Supp 1960, § 55.2906 (1) as added by SL 1968, ch 205, § 2; SL 2003, ch 31, § 1.</span></p></div></body></html>